Wednesday, February 28, 2007

All My Grinching

Oh, I am indeed being a Grinch today. I posted my economic maunderings over at the Medley.

Yes, it's titled "Good Fortune", but only because my personal 401(k) did not suffer in the latest market slide. For awhile, I had investments that slid with the market, and a couple of years ago it wiped out several thousand dollars of perfectly good money. I started to refine my choices, and after I moved money out to an IRA after the layoff, I finally closed down the last of the marginal choices.

All the big boys are moving a chunk of the principal to foreign investments. Gates moved a billion to China so he will continue to be a billionaire no matter what.

Unless the Congress starts to put taxes back to pay for what we owe, things are going to get worse. Lots worse.


Dragonet2 said...

I'm going to start moving MORE of my retirement investments into foreign assets.

Scorpio said...

You can say that again. If you can invest in Janus Overseas, do so -- it has earned a solid annual 40% or more.

Bryan said...

My Mother went totally liquid in January after nothing earned for years.

Even a savings account is better than a market index fund.

Euro based anything is better than dollar based.